美国和中国之间贸易紧张局势的升级再次破坏了全球金融市场。

加密货币和科技股正在采取特朗普政府宣布的新关税措施的全部影响

The escalation of trade tensions between the United States and China is once again disrupting global financial markets. Cryptocurrencies and tech stocks are taking the full impact of the new tariff measures announced by the Trump administration, which imposed duties reaching up to 245% on certain Chinese imports.

美国和中国之间贸易紧张局势的升级再次破坏了全球金融市场。特朗普政府宣布的新关税措施的全部影响，该措施施加了某些中国进口措施的245％。

The White House officially announced on April 15 a series of tariff measures against Chinese products, rekindling tensions with Beijing in a context of an increasingly strategic trade war.

白宫于4月15日正式宣布了针对中国产品的一系列关税措施，在越来越多的战略性贸易战争的背景下与北京重新加剧了紧张局势。

These sanctions include a reciprocal tariff of 125%, a 20% tax related to the fentanyl crisis, and additional duties ranging from 7.5% to 100% on certain specific products.

这些制裁包括125％的相互关税，与芬太尼危机相关的20％税，以及某些特定产品的额外关税范围从7.5％到100％。

This decision marks the beginning of “a new phase of the trade war“, according to Aurélie Barthere, lead analyst at Nansen. This escalation particularly targets high value-added sectors such as technology and the pharmaceutical industry.

纳森（Nansen）的首席分析师AurélieBarthere表示，这一决定标志着“贸易战的新阶段”的开始。这种升级特别针对高增值领域，例如技术和制药行业。

Data from Nansen show that cryptocurrencies and American stocks have been moving in strong correlation since November 2024. This downward trend intensified during the recent correction, with investors reducing exposure to assets considered risky, especially those seen as “expensive”.

Nansen的数据表明，自2024年11月以来，加密货币和美国股票一直在牢固地相关性。在最近的纠正期间，这种下降趋势加剧了，投资者降低了对资产被认为风险的资产的影响，尤其是那些被视为“昂贵”的资产。

Nvidia (NASDAQ:NVDA) perfectly illustrates this situation. The American semiconductor giant saw its shares drop 8% after announcing a potential loss of $5.5 billion related to export restrictions on its H20 chips to China.

NVIDIA（NASDAQ：NVDA）完美地说明了这种情况。这家美国半导体巨头在宣布与中国H20芯片的出口限制有关的55亿美元损失后，其股票下跌了8％。

In the face of rising tariff tensions and inflation concerns, the speech by the chairman of the US Federal Reserve, Jerome Powell, at the upcoming FOMC meeting on May 6 will be closely watched.

面对关税紧张局势和通货膨胀的关注，美国美联储主席杰罗姆·鲍威尔（Jerome Powell）在即将举行的FOMC会议上的演讲将受到密切关注。

Analysts from the exchange Bitfinex told Cointelegraph that a firm tone from Powell could trigger another drop in risk assets such as bitcoin.

Exchange Bitfinex的分析师告诉Cointelegraph，鲍威尔（Powell）的坚定语调可能会触发比特币等风险资产的下降。

Conversely, “a more nuanced stance could calm the markets“, which already experienced significant rebounds last week on many risk assets.

相反，“更细微的立场可以平息市场”，上周在许多风险资产上已经经历了重大的篮板。

The crypto market volatility amid macroeconomic news does not reflect a change in fundamentals, but rather cautious positioning and shaken investor confidence.

由于宏观经济新闻中的加密市场波动并不反映基本面的变化，而是谨慎的定位和动摇了投资者的信心。

In this context of uncertainty, gold continues to affirm itself as the ultimate safe haven, reaching a historic high of $3,300 an ounce. Meanwhile, the bitcoin price has heavily dropped, with some analysts, including those from QCP Capital, questioning its role as a safe haven.

在这种不确定性的背景下，黄金继续肯定自己是终极的避风港，每盎司达到3,300美元的历史高处。同时，比特币的价格大幅下降，其中一些分析师（包括QCP Capital的分析师）质疑其作为避风港的作用。

Finally, the recovery of the market will largely depend on the progress of tariff negotiations, with a potential resolution expected by June 2025, according to forecasts from Nansen analysts.

最后，根据Nansen分析师的预测，市场的回收将在很大程度上取决于关税谈判的进度，并预计将于2025年6月的潜在解决方案。